WASHINGTON, May 23, 2011 /PRNewswire/ -- Net demand for retail space has been trending up since July 2010, yet the U.S. retail sector will not reach historical average vacancy before mid-2013, according to Kevin Thorpe (top right photo) Chief Economist at Cassidy Turley, a leading commercial real estate services provider in the U.S. According to Cassidy Turley's May 2011 Insights: Retail Outlook, Class A centers will rebound with slight rent growth this year in most metropolitan areas, while most Class B and C centers in secondary and tertiary markets will continue to lag. For the next two years, it will continue to be a story of haves and have-nots.
"The good news is that unlike the previous three years, the positive momentum we are observing in the retail sector easily exceeds the downside risks, giving us greater confidence that the recovery will continue to strengthen," said Thorpe.
Cassidy Turley issued its May 2011 Insights: Retail Outlook at the International Council of Shopping Centers (ICSC) RECon 2011 conference, May 22-25, at the Las Vegas Convention Center. Copies of the May 2011 Insights: Retail Outlook and other Cassidy Turley research are available at Cassidy Turley's booth (#C187 L St) in the Central Hall.
For a complete copy of the company’s news release, please contact:
Maureen Wheeler, Vice President, Corporate Communications, Cassidy Turley, +1-202-463-1138, Maureen.Wheeler@cassidyturley.com
or Dan Cherrin, Definition 6 for Cassidy Turley, +1-313-300-0932, Daniel.Cherrin@definition6.com
Web Site: http://www.cassidyturley.com
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